Canara Bank, Tata Projects tie up

Canara Bank has signed a memorandum of understanding with Tata Projects Ltd for extending finance to set up the reverse osmosis (RO) water purification plants at community water centres for providing safe drinking water at affordable rates. The tie up will be beneficial for both entities as Tata Projects will be able to utilise the large network of branches of Canara Bank for financing entrepreneurs who are willing to set up plants to provide safe drinking water, while the bank would be able to stimulate the growth of MSME advances, especially under micro enterprises segment, the bank said in a statement. The project is being implemented in Andhra Pradesh, Telangana, Karnataka, West Bengal, Maharashtra and Rajasthan.